I’m not a conspiracy theorist, I’m a believer in Austrian economics. This is a a different view of economics from mainstream economics, which is universally Keynesian / Monetarist. The way I think about the world and manage my investments is shaped by my view of the interplay of a central planner trying (very poorly) to manage the economy, which is by its nature impossible to model.
The gold standard prevented governments (somewhat) from inflating their currencies. The reason we say “gold standard” is because the pound was convertible into gold until WW1. With the outbreak of the war, the bank had a rush on their reserves, which they had printed far more notes than they had available.
The solution was to ban the conversion of paper into gold, seize all additional gold, and force all international colonies to back their currencies with pounds and USD rather than gold.
This is not a conspiracy, it’s simply the history of how we went from a gold standard to the fiat standard. There are good reasons for why this happened. I just simply believe it’s a mistake and view the current strangeness in our global economies as a side effect of all the odd characteristics of a system where the lender of last resort (central banks) can print money at will. It’s a very strange system and I think it is bad. However I still myself must live in this system and think, reason, and invest accordingly.
https://www.natwestgroupremembers.com/banking-in-wartime/ban...